The Bangko Sentral ng Pilipinas (BSP) has imposed its harshest penalties on two supervisors implicated in the falsification of attendance records, dismissing them from service and stripping them of retirement benefits.
The Monetary Board, in a decision dated Aug. 20, said the supervisors were found liable in connection with four staffers who were dismissed last year for faking their attendance.
Apart from dismissal, the sanctions include forfeiture of retirement benefits, cancellation of civil service eligibility, perpetual disqualification from government employment, and a ban from taking civil service examinations.
“The imposition of maximum administrative penalties on the supervisors is the BSP’s latest step in addressing an issue it has always taken seriously, valuing the integrity the institution is known for. The BSP has handled the issue as swiftly as possible while observing due process to ensure that the decision upholds justice and accountability,” the central bank said.
The case traces back to November 2023, when four employees were caught falsifying time records and dismissed with similar penalties. Their supervisors, who validated the records, were subjected to a separate administrative process.
The controversy also led to the resignation of two Monetary Board members in June 2024. The Office of the President, which has jurisdiction over presidential appointees, acted on their cases on July 15 this year.
To prevent future lapses, the BSP has rolled out reforms such as stricter supervisor training, a revamped ethics committee now headed by a deputy governor, digitized HR processes for attendance monitoring, and a stronger whistleblower mechanism.
